Construction Contracts and Strategic Sourcing Analyst - Senior

Federal Reserve Bank of Minneapolis

Federal Reserve Bank of Minneapolis

Richmond, VA, USA
Posted on Tuesday, May 21, 2024


Federal Reserve Bank of RichmondWhen you join the Federal Reserve—the nation's central bank—you’ll play a key role, collaborating with a dynamic and diverse team of mission-driven professionals to strengthen and protect our economy and our communities.

Bring your passion and expertise, and we’ll provide the opportunities that will challenge you and propel your growth—along with a wide range of benefits and perks that support your health, wealth, and life. In addition to competitive compensation, we offer a comprehensive benefits package that includes tuition assistance, generous paid time off, top-notch health care benefits, child and family care leave, professional development opportunities, a 401(k) match, pension, and more. All brought together in a flexible work environment where you can truly find balance.

About the Opportunity

The Federal Reserve Bank of Richmond District Procurement organization has an immediate opening for a Contracts and Sourcing Analyst specializing in construction procurement, reporting to the Senior Manager, Contracts and Strategic Sourcing.

In this position, you will support the Facilities Management organization and serve as the procurement professional primarily responsible for construction, architectural and engineering services, and other related goods/services. You will help to transform the traditional procurement model by forging value-added partnerships with business stakeholders within Facilities Management. You will also collaborate with the National Procurement Office, Legal, Vendor Management, and Supplier Diversity teams to develop contracts that meet stakeholder requirements and achieve organizational cost savings goals. You will work independently and serve as an ambassador and primary point of contact for assigned business partners. You will use strategic sourcing best practices to balance value, demand management, risk reduction, supplier performance, and contract and category management.

What You Will Do:

  • Lead procurement, sourcing and contract management activities including the review or development of contract specifications, bid documents (i.e. RFIs, RFQs, RFPs), and negotiation strategies for District acquisitions of construction, architectural and engineering services, and other facilities-related categories. Use industry knowledge and expertise to meet complex requirements, understand market conditions, and identify sources and suppliers to increase competition.
  • Serve as a primary point of contact and thought partner to the Facilities Management team. Utilize subject matter expertise in construction-related procurement to understand internal requirements and technical specifications. Partner with Project Managers to develop a deep understanding of priorities, risks, project schedules and budget to develop a strategic sourcing pipeline that synchronizes procurement activities to meet project requirements. Track contract and procurement schedules to ensure compliance against deadlines.
  • Chair pre-bid conferences, receive and analyze vendor bids and proposals, tabulate and evaluate proposals in collaboration with Facilities Management, and recommend awards.
  • Utilize appropriate procedures and methods for construction contracting. Utilize expertise to determine the best contract model to meet project requirements. Negotiate pricing and contract language in consultation with Legal Department. Work with Legal to facilitate clarification of legal issues.
  • Maintain knowledge of related policies and procedures and answer inquiries regarding procedural guidelines, contract statuses, approvals, and supporting documentation.
  • Review and analyze related financial/budgetary items, generate required and ad hoc reports, identify and report disparities, and research relevant information.
  • Perform price/cost analysis and contract administration tasks.
  • Collaborate across the local Procurement organization as well as the other procurement teams across the Federal Reserve System.
  • Collaborate with Legal to develop and refine contracts and contract language; ensure that documents are clear, concise, and meet legal obligations.
  • Periodic travel to Baltimore, MD and Charlotte, NC facilities may be required.


  • 5+ Years experience in sourcing and procurement specifically related to commercial construction and facilities management is required.
  • Strong working knowledge and hands-on negotiation experience with a variety of construction-related contracting models.
  • Outstanding interpersonal skills and ability to work with people at all levels of the organization.
  • Excellent analytical ability.
  • Acute attention to detail with a high level of data integrity and accuracy.
  • Ability to identify critical disparities and/or redundancies in legal documentation, report compliance concerns, and seek and take direction on complex issues.
  • Outstanding oral and written communication skills with the ability to provide clear and concise information and/or instruction to key stakeholders.
  • Broad knowledge of acquisition guidelines and principles of contract management, including sourcing, negotiation, and compliance monitoring processes.
  • Proficient computer skills including Microsoft Outlook, Word, Excel, and PowerPoint along with various other online applications, as needed for the role.
  • Bachelor’s degree in engineering, business administration, supply chain management, or related discipline is preferred.

Other Requirements and Considerations:

  • Candidates should review the Bank’s Employee Code of Conduct to ensure compliance with conflict of interest rules and personal investment restrictions.
  • If you need assistance or an accommodation due to a disability, please notify rich.recruitment@rich.frb.org.
  • Employees who work at and/or visit another Federal Reserve entity or outside business as part of their job duties are required to comply with any onsite safety and health protocols of those organizations (including, but not limited to, requirements to vaccinate or test, mask, social distance, etc.).
  • Sponsorship is not available for this role. Selected candidate is subject to special background check procedures.
  • The hiring range of the Construction Contracts & Strategic Sourcing Analyst position is $86,600.00 – $119,130.00 annually.
  • Salary offered will be based on the job responsibilities and the individual’s knowledge, skills, and experience as defined in the job qualifications.
  • The Fifth District provides a hybrid work environment. This position is required to be onsite on Tuesday, Wednesday, and Thursday each week.
  • Interested candidates are strongly encouraged to apply by June 17, 2024. Applications are reviewed on a rolling basis.

Full Time / Part Time

Full time

Regular / Temporary


Job Exempt (Yes / No)


Job Category

Procurement/Vendor Management

Work Shift

First (United States of America)

The Federal Reserve Banks believe that diversity and inclusion among our employees is critical to our success as an organization, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool. The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences.

Privacy Notice